you're out of cash for a while because you're young. in my lifetime its happened a couple types and i put the water in the shampoo and all that stuff but you have to cut back on one of these things which one would it be? >> it would not be laundry detergent, it would not be deodorant, maybe shampoo but the thing is, look at this hair. i don't need to shampoo it as often, and condition it as often. people are also getting a little smart and it's a bit of an inflation story but also a story of these companies push these products so hard and we're learning we don't need to buy as much of it. charles: what was the shampoo commercial, where they say loreal -- >> to wash twice. charles: you should get it because you've erped it and deserve it. >> i can't earn anything in this economy. charles: [laughter] ladies thank you all very very much. everyone have a fantastic weekend now over to liz claman. liz: you know what i think is luxurious? ice cream in front of the tv watching forensic files. charles: that is luxurious. you're in the top 1% of 1% with that one. liz: [laughter] forensic files?

charles somebody gave the bulls some smelling salt. look at this , as we kickoff the final hour of trade for the week. we are looking at a race to the finish that has the bears getget getting trampled. the blue chips are on pace for their first record close since may 17, which happened to have been the first time that the dow closed above 40,000. we're at 40, 199 a gain of 445 points. not only is the s&p back in the game after yesterday's 49 point loss. if it can close 49 points higher and we're up 66 right now, you are looking at the 38th record this year. the s&p is at 5,651. the nasdaq erasing a big chunk of points from yesterday's 364 point loss. nasdaq up 257 and if you want to talk worst-to-first, here's the nasdaq's comeback king. 24 hours ago, chip architecture firm arm was the worst performer on the nasdaq 100.

right now, it's right at the top again with on semi which also was limping along yesterday. speaking of limping along, wells fargo horses. they are tripping up. the fourth largest us bank raised the curtain on second quarter earnings season to no applause. zero. the stock is down nearly 6%. worst performer on the s&p after wells missed analyst estimates for interest income on higher deposit costs. banks are having to shell out more to hold on to customers who are getting savvy and shopping for better yields. to this biggest surprise of the week its got to be the russel small and mid-caps right? look at the russel up one and one-third percent right now. the rotation rock star is getting really popular with investors, broadening beyond the magnificent seven stocks to let's get to dutch masters of carnivore trading. dutch, this is right up your allie. tell our viewers why the russel is suddenly the hot headline. >> well hi, liz. yeah, we were waiting for the russel to come around

and it seems like the hedge fund managers and everybody was waiting and hiding out in the mega caps and in the mag 7 until they were really sure that we had enough data that the fed was going to get a little more easy and that it was more of a sure thing that the rates would drop. they have smelled that out and now, the rotation is on big time. liz: yeah, big time and you're looking at a two-day gain here, a one-month gain of six and one-third percent but the past two days have been impressive here and the participation for the rest of the market. that had been what everybody was talking about. you've been ahead of this and i want to name some of the stocks that are smaller and mid-cap names that you have been piling into and they do actually have an a.i. component don't they? we could start with powell and powell is a technological company, right? tell us about this one, because its had a 58% gain year-to-date. >> yeah, so what you have is a group of stocks that are

supplying. they are the hardware store supplying the shovels and picks to the gold miners in a.i., so a.i. is building out these massive data centers but they need electrical components and they need cooling and they need all kinds of stuff and powell is one that's providing it. anet is another one, pstg, pure storage, vrt is right there, camt is in there, oled, so these are all part of that group and then out of nowhere, you see owens corning is in the group. they're all of a sudden waking up after a long slumber and this is a high-quality inns fusion all grade stock that all of a sudden coming out of a long-term base, everybody can buy it, high-quality, billions in market cap and you know, this is the kind of thing that we love to look for because you can pile into this thing and its

got lots of liquidity and you're not moving the market or anything like that. you're just going along with it. liz: you've got an outside trade as we finish up here and it is celsius, the beverage company. give me a quick comment on this one. >> so all we have there is we said the technicals, particularly the d making a plunge and then a turn after the stock is practically cut in half and the relationship with pepsi is going to be the key that drives this thing back. liz: okay, so folks, you would not be buying it at the highs which is exactly what you want to do. you do not want to buy these stocks at the high. you want to buy them when they pullback. dutch great to see you. folks we have a bit of a shocker from the bank earnings that came out this morning. even though jpmorgan posted its most profitable year on record, the stock is the biggest laggard on the dow heat map here. it is falling about one and one-third percent and if you look at this here, you wonder what's happening. the numbers were actually pretty

good for the full year. what about the quarter? let's bring in ubs us large cap banks analyst erica najarian, to find out why jpmorgan crushed it with the quarter they just reported. why do you think the stock is pulling back? >> so this really has to do with what dutch said earlier in that it's not really "personal" to jpmorgan. it has more to do with the broadening out of the market, so jpmorgan has been spoiling the market with increases in the outlook as we had gone through the year, and they had a pretty good quarter, but their outlook didn't change for the better so when you have a stock that is massively outperformed the rest of the banking group, it wasn't enough. it wasn't enough to push the stock higher, and so this really pairs with what happened yesterday in terms of the market solidifying a september cut, being live and that they're now rotating away

from the safety play of the money center banks and into regional banks that could benefit more from a rate cut. liz: i noticed the regionals were looking pretty darn strong today. the fed funds future show a 94% odds of a rate cut. what will that mean when you start to look at these banks and by the way, next week we've got a huge number of big financials that are reporting earnings. monday, blackrock and goldman sachs, flipping over to tuesday, tuesday we're looking at morgan stanley, bank of america, schwab, state street. wednesday, us bancorp. a bunch of these names here. how do lower rates affect these financials? i would think that they like higher rates, but then you play into this net interest income issue. >> so let's talk about what it actually means versus what the market wants it to mean, which are two different things. so one 25 basis point rate cut is not necessarily going to be

enough to bring the significant relief to deposit cost which is what the market is looking for but i'll tell you a little bit about what the goldilocks scenario is, that the market wants to believe for the regional banks in terms of what that first cut means. first, it's of course what i just mentioned which is the relief from deposit costs and a relief from decline in deposit balances. the second be a little bit of relief in terms of cre. now you could refinance at a lower rate and a third be that the easing of fed policy will lead to loan growth which has been quite lacking for all of the banking industry so far this year. liz: right. well we'll be watching it and when the mortgage rates start to come down, loan growth goes up. we'll be watching it, erika thank you very much. one of the nations top fortune 500 companies reveals a major data breach. we're going to tell you who was hacked and which stock is feeling the fallout.

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liz: huge market rally, yes, but we've got a major fox business alert regarding a telecom hack to report to you at this hour. at&t shares are not getting hit too badly. down about a quarter of a percent or five pennies, but a hacker was able to download call and text messaging information from nearly all of at&t's wireless customers who were customers back in 2022. at&t said the breach, which spanned a six-month period in that year, did not include personal data, such as names, social security numbers or credit card details, but

the hole in the system has been traced to data warehousing service snowflake. the third party cloud company holding its customer records. snowflake is melting at this hour, by about one and three-quarters percent. starbucks stock is getting a caffeine jolt after a report from the website deal.com which says the coffee house chain could be a target for an activist investor. what makes starbucks a target? well, shares have dropped 23% this year. deal.com speculates the prominent activist investor starboard value could target starbucks, please just don't touch the cake pops. that's all i have to say. i need the cake pops. activist action at masimo proxy advisory firm said shareholders should vote for nominees darlene solemon. it's the med tech firm known for its apple watch patent litigation. joe kiani run over his

self-selected board. besides nominating two directors, targeting founders kiani's removal from the board. the stock has fallen about 25% over the past year and it's down about, it's up about 11 pennies not a huge jump here at all. in fact just a few minutes ago it dipped back into the negative. a scarlet letter f for redbox, after the movie rental kiosk company said it will have to shutdown after parent company chicken soup for the soul entertainment said it has filed for chapter 7 bankruptcy. folks, that's the bad one where you just have to end it all. let redbox will liquidate its 24,000 distinctive red rental kiosks and more than a thousand employees will lose their jobs. look at this chart. back in 2021 parent chicken soup for the soul traded as i as $47. right now it is a two penny stock. well we know the streaming revolution left red box behind

but the a.i. revolution is helping one start-up backed by nvidia and mark cuban to use its hollywood production experience to help your business create personalized avatars right from the phone. nearly half of fortune 500 companies are using it and now you can too. the ceo of cynthesia tells us how it works. you guys have to watch this. it's unbelievable it's a fox business exclusive and set your dvr because a.i.'s most vocal critic, nyu professor gary marcus is here monday in a fox business exclusive to tell us what you should fear about the a.i. revolution that could go horribly wrong. that's monday, 3:00 p.m. eastern only on fox business. (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment...

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liz: fox business alert. roaring kitty quietly scratching higher this entire week. one of trader keith gill's favorite stocks, gamestop seeing five consecutive days of gains. game is up about 6.7% over the whole week, and over the last two days, it has just gone pretty dramatically higher, and right now it's adding about 1% at the moment. okay, let me just look at the market cap. i love doing that. okay just to annoy charlie gasparino. $9 billion. okay. just saying. first scarlet johansson sounded the alarm about chatgpt stealing

her voice and now the star of the 1997 movie "faceoff" is worried a.i. will steal his face, body and his acting jobs, in a new interview with the new yorker. nicholas cage reveals how he is now regretting submitting to two full-body scans for upcoming films where technicians upload his likeness, into a computer, to facilitate special effects, but now he says he's terrified that eventually, a.i. will have the power to access those scans, steal his body, and "do whatever they want with it." that said, one a.i. start-up backed by nvidia and mark cuban, the billionaire, is forging ahead with scans, body scans of actors and models but for training videos. not movies. watch this one. >> in this we will focus on three core skills crucial for effective communication in any setting. liz: that video was created by synthesia. the actress is a real person but the words coming out of her mouth are completely generated

by artificial intelligence, letting the user in the words of nicholas cage, kind of do whatever they want, or make her say whatever they want, but let's get more on this. the co-founder and ceo of synthesia is joining me now in a fox business exclusive. tell me who that woman was, how you got her on camera, what she agreed to and then how you've made her mouth and voice say whatever you guys want. >> yeah, thanks for having me on. so synthesia is an a.i. platform working with some of the largest enterprise companies and we help them create more video content so if you think of where we are today, and people want to watch, they don't want to read that much anymore, just like they are watching this show but the problem is the video production you start to at least to be very intensive in terms of money required at the time of the skill and what we offer is a much easier way to make these videos so instead of filming with a camera, get a platform and make one of these stock

actors or create yourself which is popular and then just type in the script and we make a video so we have a library on the platform that we can use but actually, a large percent of our customers make their own a.i. clone and videos. liz: okay so customers and many of them fortune 500 companies, can actually decide who they want but you have a library of these avatars which are actually real people. i think we have a video of how you were doing this and then you just rolled out a brand new model for this but basically, people stand there and you take a full body scan. they would agree to this , and what would you be able to capture here, victor? >> so you could either capture in the studio, or you could do it from home on your web cam which is the most popular way to create an avatar, so i can just do it at home with a camera and then you're good to go. it's interesting what these models learn is some sort of representation of you. it learns how you speak, how you gesture, and that's not too

dissimilar from what additional effects studios have been trying to do for many years so in hollywood you see digital humans at every film you watch you have digital scenes and it is kind of a continuation of that technology ultimately. the thing that a.i. enables here is that rather than having to spend millions of dollars creating a digital clone of someone and then animating it, you can do this all the way down to just using a web cam so that's the power of a.i. it makes it much more accessible and scalable than doing the traditional way you would do in hollywood. liz: well, nicholas cage, the actor, expresses concern that they took a body scan. this was a different company, because you had started in the movie industry but morphed to the actual corporate business industry. we'll get to that in a second, but nick cage is a little concerned about this because think about it. these actors and these models that you have already in your library, what kind of contract did they sign? do you basically have them sign

something that says we can use it for anything? i mean, i know you're not doing this , but you could take it and use it for porn or something like that and make a lot of money. >> that's definitely not right so when we found the company we did so on an ethical framework, which is about consent, control and collaboration. the first one is consent and i think understandably are the people worried about where is this going to go and what is this used for but of course consent is the baseline for anything you do here. everyone we work with has gone through the process of creating their avatar and very well-aware of what that means and very clear guidelines for consent. we've never created an avatar without consent and off that comes control which is we take a very strong stance of what you can create, what kind of content you are allowed to create and we're very restrictive on that so it's mainly focused on b2b, you wouldn't be able to produce violence or those sort of things so everything has to be done with control, right?

and that's the baseline. liz: because i sat there and i watched that first clip of the woman wearing the lavender sweater and i was looking at her mouth and the way she was speaking and i could not tell that she had actually never uttered those words. you had manipulated it so i think that's really fascinating right here on our screen. you've got everyone from zoom to xerox using this product. i'm sure it's really helpful for them because when you have to pay somebody to tape any kind of promotional video, believe me, we know being on television you've got take one, take three, take five, but what happens in the future? because i'm thinking about whose using this service? how much does it cost if somebody with their web cam or their cell phone cam at their home wants to do one of these what are you charging? >> so i mean, we have a free version of the product and it goes all the way down to $30 to get access to create your own avatar and of course goes much bigger than that if you are

an enterprise company, but i think ultimately, i understand a lot of people kind of you want to compare this to traditional video production but actually what we're seeing with our customers is that at least today, this is not really about replacing traditional video production. traditional video production is still way better at all of your moments and really important content in your business. this is really much more about replacing text, so if you look at all of the content people make on the platform today probably 99.9 of that would have been a word document. liz: sorry, did you say the cost -- did you say the price because i really know my viewers would want to know. >> yeah, we have a free version. liz: free, and then? >> and then it starts at $30 per month and then much bigger depending on how many you require. liz: please do not offer this to fox business because "varney", cavuto, charles payne and i will have a fit. we want to be the ones on the set here. we don't want to be replaced.

go ahead. >> actually, i think i understand that but i think what's actually most exciting about these technologies, which is a lot this year is that you could do a lot of things with a.i. video you couldn't do so if you had an avatar yourself you could deliver a personalized news video to all of your viewers every morning. liz: but i'd just do it. >> it's about the stocks and the sports teams that you follow and so on which is what most of our experience is already. liz: i've got a tiktok channel i do it anyway but victor it is fascinating. you've got major investors with mark cuban and nvidia and i know google ventures involved good luck to you thank you very much. >> thank you so much. liz: "varney" would have a caniption fit and charles? president joe biden's big boy press conference last night shrinking his donor pool at this hour. his post-nato news conference failing to stop the retreat of

big money supporters. where does democratic donor and billionaire investor frank mccourt jr. stand? he is next in a fox business exclusive. we will ask him. and billionaire went from david to goliath by creating built, a first-ever rewards card for paying rent. how did he totally up-end the rent payment business? hear how he did it on my brand new everyone talks to liz podcast episode that drops tomorrow on apple, google, spotify, iheartradio, wherever you get your podcasts. it drops tomorrow. dow charging higher by 431 points that be a record. same with the s&p. we're watching it all very closely. when the sawdust settles and the engine roars the thing you care about is a job well done.

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investment opportunities are everywhere you turn. but at t. rowe price, we're letting curiosity light the way. asking smart questions about opportunities like advances in healthcare. and how these innovations will create a healthier world tomorrow. better questions. better outcomes. liz: well, it is not just the stock market rallying and that is what we have. you've got crypto rallying and crypto stocks is well on the move here looking at bitcoin at the moment. pretty much defending the 57, 700 level at the moment it's up

just under 1% and if you look at spot bitcoin etf which track the exact price of bitcoin they are all on the move. everybody's higher from three-quarters of a percent to 1% and change. breaking news, president joe biden is expected to touchdown in detroit, michigan at any moment. you're looking at, well actually this is earlier at joint base andrews. the president holding a rally later today at renaissance high school. biden getting back on the campaign trail, determined to stay in the race as he fights to sure up support for his candidacy. this comes after the president held a press conference last night where he stumbled over his answers and mixed up names of his own vice president with president trump. now, the calls for president biden to withdraw from the race are picking up more steam in the last couple of hours on capitol hill. hillary vaughn is right there. what's the reaction from lawmakers, the latest? reporter: hi, liz. the latest is that one lawmaker actually told the president in person over the phone

this afternoon that he wants him to dropout of the race. california congressman mike levin said on a call the president was on that the congressional hispanic caucus he thinks he should step aside and step down as the nominee of the party. this is after the top democrat in the house, hakeem jefferies, was at the white house last night, after biden's press conference, where he delivered concerns from his caucus in-person to the president, but it has not stopped the drum beat of democrats calling for him to dropout. now, five more democratic lawmakers have called for biden to step aside following that presser, bringing the total tally to 19 lawmakers asking him to pass the torch on to someone else, but democrats calls for biden to drop are not just because biden's odds against trump are not great but because they don't think biden is fit for the job. >> we can't have a situation where every day we're holding our breath whether it's a press conference debate or a rally.

>> this is not about whether he could give a good press conference. is he able to be up three days straight and to make all of the correct decisions? this is a job. reporter: but will members of the congressional black caucus insist they are riding with biden? congressman james clyburn left the door cracked open this morning for a possible biden exit off the ticket. >> let joe biden continue to make his own decisions. he's earned that right and i am going to give him that much respect. if he decides to change his mind later on, then we will respond to that. we have until the 19th of august to open our convention. reporter: so this performance may have bought biden more time but the clock is ticking and talks about that are going on behind the scenes from top party leaders, pelosi and obama reportedly met to discuss biden's campaign but it's not just washington. biden needs to worry about it's wall street too, because major democratic donors are having a

revolt of their own. the new york times reports donors have told the largest biden super pack that roughly $90 million in promised donations are now frozen as long as biden remains on the top of the ticket. liz? liz: yeah, it's just getting worse. it is actually not getting better. hillary, really quickly, are you hearing there are other democrats on the hill who are gearing up to make similar statements like mike cheryl did the other day? >> yeah, i mean, we've seen this slow drip, drip, drip, liz of people continue to dropout. the press conference obviously didn't ease everyone's concerns because after that, we've seen at least half a dozen come forward, so it's really unclear right now what the president could do or say to make people feel comfortable, because everyone coming out doesn't really seem to look for anything more from the president. their minds made up. liz? liz: sounds like it. hillary thank you very much. president biden determined to

stay in the race. that has not changed, but some of his biggest donors as hillary just told you are bailing. a white house official on air force one said donations poured in during biden's speech last night, saying they "exploded." but let's get the real feel from one of president biden's long time mega donors, and somebody whose donated to the democratic party for many years. billionaire entrepreneur frank mccourt jr. , executive chair of mccourt global joining me in a fox business exclusive. frank, we've got a lot to talk about not the least is the group you're bringing together to maybe buy tiktok and the reasoning behind that but i just have to ask you. what path do you think president biden should take forward? >> you know, liz, how are you? good to see you. liz: thank you. >> i'm not a political pundit so i'm not going to give president biden advice. i'll leave that to the democratic party. i'll simply say that i've been

pretty discouraged about how our politics is working generally, which is why i launched project liberty, wrote a book about the topic called "our biggest fight" and now, we're putting forward a bid for tiktok to really accelerate and catalyze an alternative to the internet so that we don't have to be stuck in this polarized environment that just amplifies extremes. i mean, how is it possible that over 70% of americans don't want this particular race that we have and yet we have it. liz: these are two highly-unpopular candidates. we definitely see that and we have seen that for the past several months but frank, does that mean that you are going to hold off on any future donations at the moment for president biden's campaign? >> liz, i've supported presidents from both sides of the aisle. i consider myself more of an independent than align with either of the two parties.

i'm all for common sense and moderate views, but i've been on the sidelines here for the past three-plus years, because i just, i don't like the way our politics is headed generally speaking and as i said earlier, i mean, we have over 70% of americans wanting something different than what we have as far as a choice is concerned. something is wrong. somethings not working, and what i would put forward as the answer to that is internet technology. the way social media in particular is working to polarize us, to put us in two corners and then amplify those extreme viewpoints so that we get our choices are extreme is just, it's not working for american people and we need to fix that and we can fix that and that's the beauty of this. rather than sit and moan and grown and complain about the problems and we're seeing problems with internet

technology on a daily basis, whether it's the undermining of democracy, the extreme polarization or the harms to children, i mean, how long are we going to sit by and not fix this. liz: well exactly, and frank, a lot of that has to do with our lawmakers who take the money from the lobbyists and back away but again, you're right. social media has blown a hole in the hull of our democracy when it comes to this divisive wedging that they are able to pull off. one of the things president biden did do because it was a bipartisan vote was to ban or divest, to tiktok, the chinese-owned very popular microvideo site and my question is you have decided that you want to put together with project liberty a group to maybe make a bid for this , if bytedance were to say okay, fine. we'll divest the us arm of tiktok. have you put, how deep are you into this? have you put a value on the company? what kind of money are you

raising for this? >> yeah, we're deep into it. deadly serious about this. think this be an awesome way to catalyze an alternative version of the internet where individuals would own and control their identity and their data and we have an internet then that's in harmony with our democratic principles. freedom, liberty, agency, economic freedom as well, and right now, we're captured by big platforms that scrape our data and manipulate us, let's face it, and i was thrilled that the congress moved so quickly regarding tiktok but let's step back for a second here and look at this. our own platforms are doing the same thing. they are scraping our data. they are profiling us, and they are manipulating us and they are actually causing us not to get along as opposed to get along, so yeah. we're putting together a bid. as far as your question is concerned in terms of the amount, it's too early, liz, because we haven't learned what

bid dance might be selling. at the moment they are resisting selling it but our bet is they're going to sell, they will have to sell and there's a lot of american capital invested in tiktok that i think wants to see a return. liz: how many people are joining your effort? are these people whom we would recognize, i assume you're not ready to name them but do you have a lot of people who are getting their shoulder behind you on this? >> yeah, absolutely, and that's what makes it most encouraging to me and we've talked to people ranging from let's start with wall street, guggenheim securities, arnold schwartz running the capital stack for us. kirkland running the legal part for us but we've been approached by foundations, endowments, conventional capital. we've been approached by parents who are concerned about the harms to their children supporting the bid. we've been approached by tiktok influencers who would like to be part of this. remember, we call it

the people's bid for a reason. we think the 170 million users of tiktok should be owners of tiktok. not just people creating value for someone else but actually stakeholders in the platform. liz: well, kevin o'leary has talked about that. he wants people to each get a piece of this. frank, please come back as this progresses. we are very interested in following what you and project liberty are going to do here. >> yeah, thanks and i'll be happy to come back at any time and enjoy the rest of your day. liz: you too, frank mccourt jr.. once owned the dodgers but he's in it right now in real estate and he wants to make that bid for tiktok. skydance media, it wants its mtv and the rest of paramounts properties but can they get it without a major legal battle from other investors in the media giant? charlie breaks it, next on the "clayman countdown." ♪ there are some things that work better together. like your workplace benefits and retirement savings. voya provides tools that help you make

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liz: breaking news, sony is out of the running for a deal to purchase if paramount deadline reporting that it and apollo global -- who had made, remember this, a combined $26 billion offer earlier -- will not make a new bid during paramount's 40-day so-called go shop heard period. paramount had accepted skydance

media's offer on monday, but now some shareholders are threatening legal action over that transaction. apollo's down half a percent, sony's up half a percent. paramount global continues to fall, it's down more than 1%. what are you hearing, charlie gasparino? >> you know, that's the trouble, and it's in trouble, what the stock is doing right now, for shareholder lawsuits. i can tell you people inside the skydance, redbird team, that's, essentially, the consortium of private equity plus skydance, a small boutique production company owned by david -- and run by david ellison, the son of oracle founder larry ellison, that they are bracing for significant shareholder lawsuits. when those come, i can't tell you. one potential lawsuit, we should point out, could come from if mario gabelli. i spent some time with him a couple days ago, you know, talking about his options. he didn't mention lawsuits, but what he did say was that he's

going to fight for transparency on the deal terms. he's launching something inside his company knowned as operation fish bowl -- known as operation fish bowl where he wants to see exactly how much money shari redstone made on this thing, the de facto other than of a paramount until this deal gets done. she has controlling shares through a holding company. a little complicated, but she basically was the other than. she's getting a good deal, something like $1.7 billion. he wants to know why she's getting so much money and the common share holders are getting very little. we should point out that the skydance, redbird people are saying you're getting a better balance sheet, we've got upside going forward, and gabelli could be convinced of that. at least that's what he told me. but the bigger point, liz, is this: this thing is not totally papered yet. there will be lawsuits, at least they're bracing for them. gabelli may or may not be part of those lawsuits. and i will say one other thing, i am not so sure that apollo and

sony are out of it. at least on the apollo side. you know, they are still snooping around this, i heard as of yesterday, from someone close to them. let's say someone that knows what they're doing. they're just looking to see how this all plays out with the shareholder lawsuits. i'm not saying they're going to do it, but if there are significant shareholder lawsuits on in that muddies up the water here, you could see apollo come back in. i don't know if they come in with sony. sony has some issues with foreign ownership over -- it's a foreign company, japanese company. foreign ownership of local stations and things like that that paramount if owns is an issue. i mean, i guess you could sell those, but it will be an issue. there's no real cfius issues with the current deal like government worried about foreign ownership. liz: yeah. >> clearly, from what i understand, they are looking at it, and they're looking at the issue that we're talking about right here, potential shareholder lawsuits including one really big and smart

shareholder, that is mario gabelli, who i know you'll be having on your show soon. liz: next week. >> can't wait for that. liz: that's going to be a big one. thank you very much, charlie. i don't know, it just looks like skydance. come on, please, skydance is going to get this -- >> if it blows up, are you going to be surprise after all this? [laughter] i mean, come on. liz: listen, john paul deyour row is with his blow dryer. thank you very much, charlie. closing bell, folks, we are about four minutes away. we've got a big rally going on. but look at this, okay, yes, the dow is on track for its first record close since may 17th. but we've started the see a little bit of profit taking. want to to show you some intraday. high of the session was a gain of 503 points. we're now up 22282. high -- 282.

for the s&p, up 71 is, now up 34. the nasdaq is getting hit although still gaining, 128 points, it had been up 273. but for the week it looks like the the major averages are all going to close higher and, again, this would be two straight the weekly wins for the dow9 and the s&p and six in a row for the nasdaq. let us not forget the small and mid caps, the russell 2000 still holding on to the biggest percentage of gains, 1.25%, a nice move for the past couple of days for the russell. we can look at shares of chipotle since it conducted a 50 for 1 stock split back on june 25th, one of the biggest in wall street list. the stock since then is down nearly about 10%. so as you look at the shares, they're at $57 and change right now, this month if alone it's been kind of a rocky time. but between chi poet a lay's downward trend and the more palatable post-split price, should investors be buying the dip? our countdown closer says jump

on it, dig into that burrito goal d bowl of a stock. joining me now, senior portfolio manager thomas martin. thomas, chipotle, we've got to talk about this because this would be an opportunity for entry, as you see it, correct? >> yeah. great, thanks for having me on the program. and chipotle is one of those stocks that if you're looking at getting into a market that has been on a tear and some stocks that have been up very strongly, you like to get them on a pullback, and chipotle is one of those that is that. nothing's change changed as far as the the fundamentals, one of the best restaurant stocks you can get for the people buying their stuff and the improvements that they're making. so it's a great opportunity to get in at a discount price.

liz: you've got to figure what are people still going to eat when they go out if we start to see a slowdown in the economy. you also like micron. micron yesterday was one of these chip company that was getting hit hard. today it is climbing more than 2.5%. so give me a sense of what it is about this particular chip maker where you say that should be in the portfolio. >> right. so there are several companies that are in the a.i., microchip, semiconductor, you know, just gotta have 'em, can't make enough of them and demand is high and looking like it's going to be high for quite some time. and then those stocks got bid up, and then some of them are still really not off their highs that much. but micron was off 15% from its high early this morning. so it really was giving you an opportunity to purchase that one. and part of the reason it was

off ask even though they reported -- even though they reported a quarter that was better than expectations and they had a decent guide, that guide was in line. it just shows you how much expectations play into this. and the stock had been weak ever since then. but they have legs underneath their story in terms of the need for memory and particularly more sophisticated high band idth memory where they're going to be playing and there's a long runway for them. so so good opportunity to get in on that one for an area that's pretty well -- liz: i just need a quick comment on the macro picture as we head into the final closing bell. we know that the fed, at least right now the market is pricing in a near 1000% chance -- 100% chance they will cut rates in september. if the lending prices go down, the costs of getting a loan go down. they should do well, is that your theory? >> well, that's part of it, but

the other part is simply if technical really. the gap between the performance of large cap and small cap, the gap between growth and value, the gap between, you knows the mag 7 and everybody else has just gotten so huge. and we've been talking about it for a long time. but people are chomping at the bit to be able to diversify their portfolios and to find something that's beaten down that isn't up is so they can get involved in it. liz: tom, good to see you with. we thank you very much. folks, what -- did i point this out just a few minutes ago? a little bit of profit taking means no new record for the dowment and the dow just lost, still a gain of 225 points. no record for the s&p or anybody else, but and i -- ♪ ♪ larry: hello, folks, welcome to "kudlow," i'm larry kudlow. president trump has a growth think platte forge now he just need